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Starbucks to Open 400 Net New U.S. Stores as Part of Transformation Plan 

by Abby Cox

Seattle — At its recent 2026 Investor Day, Starbucks Coffee Co. highlighted progress in its “Back to Starbucks” transformation plan. By fiscal 2028, the company expects to open 2,000 net new stores across its portfolio, including approximately 400 net new U.S. company-operated stores. Brady Brewer, chief executive officer for Starbucks International, shared the company’s plan to accelerate global growth in a program referred to as coffeehouse “uplifts.” With this plan, Starbucks expects to add more than 25,000 café seats across the U.S. by the end of fiscal 2026. Starbucks also announced …

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Amazon to Close Physical ‘Go’ and ‘Fresh’ Grocery Stores, Expands Whole Foods Market Brand

by Abby Cox

Seattle — Amazon is announcing plans to close its Amazon Go and Amazon Fresh brick-and-mortar stores. A total of 57 Amazon Fresh and 15 Amazon Go stores will shut down in February, according to several media sources. Amazon first launched the cashier-less Amazon Go stores in 2018 and expanded in 2020 with the first Amazon Fresh grocery stores. According to the company, Amazon will instead focus on an effort to prioritize expansion for Whole Foods Market, which it acquired in 2017. Amazon is expected to open more than 100 new Whole …

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301-NE-192nd-Ave-Camas-WA
Investment salesNewsWashington

Forging Union Acquires Multi-Tenant Retail Center in Metro Portland, Oregon, for $18.7 Million

by Abby Cox

Camas, Wash. — Forging Union LLC has acquired a 35,547-square-foot multi-tenant retail strip center located in Camas, approximately 20 miles east of Portland, for $18.7 million. Hurley Development was the seller. Situated on 2.5 acres, the property was fully leased at the time of sale to 15 tenants. Wes Bochner of CBRE represented the buyer in the transaction.

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Five Below
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Five Below Debuts in Pacific Northwest with Eight New Stores

by Abby Cox

Philadelphia — Philadelphia-based specialty discount retailer Five Below is debuting its brand in the Pacific Northwest with seven new stores set to open across Washington and one in Oregon on Nov. 7. The new store locations in the region will include Sunrise Village in Puyallup; Celebration Center in Federal Way; Everett Mall in Everett; Evergreen Crossing in Spokane Valley; Valley Mall in Union Gap; Vintner Square in Richland; Alderwood Parkway in Lynnwood; and Cascade Plaza in Beaverton, Oregon. Founded in 2002, Five Below operates more than 1,850 stores in 44 …

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Starbucks Coffee
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Starbucks to Close Stores, Lay Off Workers in $1 Billion Restructuring Effort

by Abby Cox

Seattle — Starbucks Coffee has announced that it will be eliminating roughly 900 non-retail U.S. jobs, with additional plans to close several hundred underperforming company-operated stores, as part of a broader $1 billion restructuring effort. The company’s store count will decrease by about 1 percent, which translates to roughly 500 closures for the company, as reported by CNBC. Starbucks plans to end its fiscal year with almost 18,300 North American locations, including both company-operated and licensed cafés.  Brian Niccol, chairman and CEO of Starbucks Coffee, stated that baristas from closing locations will receive severance packages or will be …

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Lacey Marketplace
Investment salesNewsWashington

Curbline Properties, Agree Realty Buy 125,204-Square-Foot Lacey Marketplace in Washington

by Abby Cox

Lacey, Wash. — Curbline Properties and Agree Realty have separately acquired portions of Lacey Marketplace, a 125,204-square-foot power center in Lacey. Curbline Properties purchased the 31,885-square-foot retail component located at 1350 Marvin Road NE for an undisclosed price. Current tenants of the fully occupied property include Panera Bread, Mattress Firm, BECU, Verizon Wireless, Cutter’s Point Coffee and Panda Express. Meanwhile, Agree Realty acquired the remaining 93,319-square-foot big box component located at 1200 Marvin Road NE for $21 million. The fully occupied retail component features tenants such as Boot Barn, La-Z-Boy, …

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Hazel Dell Marketplace
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Gantry Secures $27.8 Million in Refinancing for Hazel Dell Marketplace in Vancouver, Washington

by Abby Cox

Vancouver, Wash. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a 227,680-square-foot retail center in Vancouver. Situated on 28 acres across 11 buildings, Hazel Dell is anchored by Safeway. Other tenants at the center include Ross, Marshalls, Parkrose Hardware, Sola Salons, Killer Burger and Sally Beauty. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s correspondent …

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Nordstrom Rack
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Nordstrom Rack to Open Five New Locations in 2026 

by Abby Cox

Seattle — Seattle-based fashion retailer Nordstrom Inc. plans to open five new Nordstrom Rack outlet stores next year. The stores will be located in Elmwood, Louisiana; Williamsburg, Virginia; Canton, Ohio; Deptford, New Jersey; and Mansfield, Massachusetts. Nordstrom Rack is the off-price retail division of Nordstrom Inc. Nordstrom Rack offers customers up to 70 percent off on-trend apparel, accessories, beauty products, home decor and shoes from many of the top brands sold at traditional Nordstrom stores. The Elmwood location will open in spring 2026, while the remaining openings are scheduled to debut …

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Ellingson Crossing
Investment salesNewsWashington

Northmarq Arranges Sale of Ellingson Crossing in Metro Seattle

by Abby Cox

Auburn, Wash. — Northmarq has arranged the sale of Ellingson Crossing, a 15,270-square-foot retail center located within the Auburn/Kent Valley Industrial District, roughly 20 miles south of Seattle. Starbucks Coffee anchors the property, which was originally built in 2007. Tenants at the center include Wingstop, Domino’s Pizza, Taco Time, American Family Insurance and You First Dental Care. Sean Tufts, Kevin Adatto and Joe Dugoni of Northmarq’s Pacific Northwest Commercial Investment Sales team represented the local private seller in the transaction. New York City-based Curbline Properties was the buyer.

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Admiral Junction
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JLL Facilitates $35.4 Million Sale of Admiral Junction in West Seattle

by Abby Cox

Seattle — JLL Capital Markets has facilitated the $35.4 million sale of Admiral Junction, a 67,992-square-foot shopping center located in West Seattle. A 60,876-square-foot Safeway anchors the center, which comprises 82 percent of the property. The remaining 7,116 square feet is dedicated to additional retail tenants including Menchie’s Frozen Yogurt and Verizon Wireless. Daniel Tyner, Geoff Tranchina, Gleb Lvovich and Zach Koucos of JLL’s Investment Sales and Advisory team represented the buyer, Silver Star Ventures, in the transaction.

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